Monday, February 27, 2012

Ibori pleads guilty to money laundering charges

Former governor of Delta State, Chief James Ibori, on Monday pleaded guilty to fraud and money laundering charges at a Southwark Crown Court in London.
An online medium, saharareporters, says Ibori pleaded guilty to 10 counts of fraud, money laundering and corruption before Judge Anthony Pitts.
Ibori’s guilty plea has closed a chapter to a long judicial and political saga pertaining to his massive money laundering activities in his eight years as governor of one of Nigeria’s major oil-producing states.
The former governor faces up to 10 years in a UK prison during sentencing, which will take place after the completion of the trial of his accomplice and financial advisor, Ghanaian-born Elias Preko.
Today, the judge ordered that the remaining charges would remain on file.
In a short submission, Crown Prosecution Service lawyer, Sasha Wass, QC, said the prosecution does not seek to go ahead with Ibori’s trial anymore, saying, ” Mr. Ibori has accepted the entirety of the prosecution’s case as it has always been set out.”
More details later.